driving performance
realising value
Melrose seeks to acquire underperforming industrial businesses whose operational performance can be improved. Melrose invests in its businesses to fully exploit their operational and strategic strengths. Once a turnaround has been completed, it aims to sell these businesses and deliver value back to shareholders.
Annual Report 08Now available to:
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Interim Report 09Now available to:
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2009 Preliminary Results Highlights1
• Headline 2009 Profit before Tax of £118.6 million (2008: £73.1 million)
• Headline 2009 Earnings Per Share of 16.6p (2008: 16.1p)
• Basic Earnings Per Share after exceptional items and intangible asset amortisation of 11.0p (2008: 4.1p)
• Profit before Tax of £82.0 million (2008: £23.5 million)
• Headline Operating Profit margins in the second half of 2009 of 13%
• Excellent cash generation, at constant exchange rates net working capital reduced by £148.3 million (over half) since FKI acquisition
• Net debt of £321.7 million (2008: £543.1 million) reduced by £221.4 million. Net debt is now 1.76 x EBITDA
• Proposed second Interim Dividend of 4.8p per share (2008: Final Dividend of 4.25p) payable on 1 April 2010 to shareholders on the register on 19 March 2010 in lieu of the Final Dividend for this year. Together with the previous Interim Dividend of 2.9p (2008: 2.75p), this gives a full year dividend of 7.7p (2008: 7.0p) up 10.0%
(1) For notes on the highlights, please see the FY 2009 statement in the media and investor section of this website.
News
Annual Information Update
Melrose PLC Full Year Results 2009
Interim Management Statement
Melrose PLC Interim Results 2009
Completion of the sale of Crisplant
Sale of Crisplant
“Our first full year of ownership of FKI has exceeded our expectations, with margin improvements, debt reduction and cash generation being the highlights. In a very difficult year these results illustrate the quality of our businesses.
“We continue to believe that market and economic conditions favour acquisitions over disposals at present and so we continue to look for the right opportunity. Fortunately, the strong growth potential of our existing businesses over the next few years gives us the ability to be patient.”
